Bob Collymore to exit Safaricom

Health reasons could be behind Safaricom chief executive officer Bob Collymore’s decision to leave the trillion shilling company even as a succession row could be in the offing, according to a report by Reuters.

The international news organisation reported on April 29 that an announcement on Collymore’s replacement hinges on government’s insistence that the next head of Safaricom be a Kenyan.

Reuters cited two company sources in its news report.

Collymore, who had taken a nine month medical leave since late 2017 to battle cancer, has managed to raise Safaricom’s stock by more than 400% to an average of Ksh28.

In turn, the telco has risen to become the most valuable company at the Nairobi Securities Exchange (NSE), worth around Ksh1.1 trillion.

Days before the Reuters report, Collymore had told Citizen TV’s Jeff Koinange that he was feeling “pretty good” about his health.

According to one source quoted by Reuters who spoke under anonymity due to there being no official announcement yet, the Safaricom CEO wishes to concentrate on his health and will not renew his contract.

This is a developing news story and is being updated…

Latest

Firms Announce Merger Deal to Expand Services

Dalberg Implement, a leader in on-the-ground program implementation with vast expertise in strategy execution, and Axum, an Afrocentric impact firm dedicated to fostering inclusive growth across the Global South, have announced a merger.

Odibets Launches Mega Water Project In Makueni

Odi Mtaani Foundation by online betting company Odibets, in...

Ivon Priscar Living Kenya’s e-Commerce Dream in Grocery Shopping

As Kenya's informal sector continues to thrive, companies like Kapu serve as catalysts for economic empowerment and resilience.

Rose Ntong’ondu: Popcorn Hawker Who Owns a Multi-Million Beauty Empire

Rose Ntong'ondu, founder of Makeup by Rose, is a Kenyan-based makeup artist, teacher, mentor, and beauty entrepreneur.

Follow Us

Newsletter

Don't miss

Throwing The Girls Into Deep End: Single Kiasi S3 First Look

Nairobi’s dating scene is about to get messy: Single Kiasi...

Win New Year Crossover Mugithi Tickets With Odibets

The event has attracted prominent Kikuyu musicians who will be headlining the event including Samidoh and Muigai wa Njoroge.

For Coloured Girls is Theatre Production of the Year

The play ‘For Coloured Girls (who have considered suicide/ when...

Tusker Oktobafest Rolls East African Cultures into One

From regional events across Kenya to inaugural gatherings in Uganda and Tanzania, and the Tusker Oktobafest grand finale in Nairobi, the festival harmonized traditions, celebrated diversity, and highlighted the rich cultural tapestry of the East African culture

Lupita’s Little Brother Junior Nyong’o Charting His Own Path in Acting

Junior Nyongó, who is also a musician and a DJ and now a graduate of UC San Diego with an MFA in Acting, is crafting his own solid path in the world of acting with roles in major theatre productions.

Safaricom To Power Tusker OktobaFest Beer Festival

Safaricom’s involvement in OktobaFest as a technology and payments partner will focus on fostering seamless in-festival connectivity, empowering the youth and Gen Z community through Safaricom Hook, and powering digital payments through M-PESA.

Music Producers Launch Organization To Streamline Recording Industry

Recording Industry of Kenya (RIKE) was launched on 9th October 2023. Registered in 2022 as a not-for-profit organization, RIKE aims to promote the collective interests of producers of sound recordings in the country.

Nairobi’s Hero Bar Listed Among World’s 50 Best Bars

World Best Bars: Hero Bar in Nairobi continues to climb the list, moving up six places to No.62 and Johannesburg’s Sin + Tax comes in at No.94. Dubai new entry Ergo is at No.69 and Melbourne’s Byrdi has re-entered the list at No.61.

Kenyan DJs Face Off In Smirnoff Battle Of The Beats Season 3

The Smirnoff Battle of the Beats Season 3, a DJ competition, is poised to unleash an unprecedented musical frenzy countrywide.

The Highs And Lows Of Betty Kyallo, Sisters Show As Season 2 Ends

Kyallo Kulture has always been, above all, about sisterhood, and in Season 2 we have witnessed the charm of it - the ups that gave us wholesome moments as the sisters led by Betty Kyallo spent time together.
Mike Njoroge
Mike Njorogehttp://www.businesstoday.co.ke
Mike Njoroge is the founder of Daystar Oracle and FootballTriangle. He is passionate about news, religion and sports. He can be reached at: [email protected]

Firms Announce Merger Deal to Expand Services

Dalberg Implement, a leader in on-the-ground program implementation with vast expertise in strategy execution, and Axum, an Afrocentric impact firm dedicated to fostering inclusive growth across the Global South, have announced a merger.

Odibets Launches Mega Water Project In Makueni

Odi Mtaani Foundation by online betting company Odibets, in collaboration with the Betting Control and Licensing Board (BCLB), have launched a multi-million water project...

Ivon Priscar Living Kenya’s e-Commerce Dream in Grocery Shopping

As Kenya's informal sector continues to thrive, companies like Kapu serve as catalysts for economic empowerment and resilience.

6 COMMENTS

LEAVE A REPLY

Please enter your comment!
Please enter your name here